PLAMENA NEDYALKOVA
pages: 31-47; JEL classification: G28, M41 , M48, Z32; Keywords: Risk, Risk Management, Control, Enterprises, Tourism Sector; Abstract: Risk management is a complex process that requires company managers to have very good knowledge of its organizational structure on the one hand and on the other hand, in order to achieve a good management, it is necessary for the respective manager to have sufficient long-term experience during which the manager has monitored the processes of company management and its susceptibility and change under the influence of various factors. Due to the limited scope of the article, the research is focused only on one of the main problems in risk management, namely the study of the standard deviation of the risk in the process of assessing and analyzing the risks in tourism sector enterprises. Two hypotheses are presented for testing and research. Proving these two hypotheses through the application of the mathematical toolkit for risk assessment gives the innovativeness of the article and its authorial identity, which distinguishes it from other publications in the field of tourism sector.  The obtained results of this article can serve the managers of tourism companies to improve their work in the management of hotels. The process of identifying, testing, evaluating and analyzing risks is complex, requiring managers to have sound knowledge of finance, accounting, economics and management. .